Heat on the way to the Cornbelt. Grain futures moved sharply higher overnight on yesterday afternoon’s crop rating declines across the board for row crops and spring wheat, along with weather models that continue to bring heat and dryness back into the central corn belt in the early part of August. Grain prices have broken…
Ukraine Export Corridor questioned. Grain futures took an about-face overnight, reversing sharply Friday’s grain price slump celebration of the Ukrainian Export Corridor signing as Russia was launching missile strikes on Saturday morning into the Odessa grain ports, claiming there were ships there with US military munitions on board. After declining for 60 days since the…
Cattle On Feed On Feed: 100% vs 100.1% estimate Placed: 98% vs 94.7% estimate Marketed: 102% vs 102% estimate Inventory: 98% vs 97.9% estimate Calves: 99% vs 98% estimate Report was Neutral to slightly negative on placement number. Expect .50-1.00 lower open on Monday.
Ukraine grain corridor signed today. It’s been 60 days since the hint of a Ukrainian Safe Grain Corridor was first proposed by the UN, and spot wheat futures have declined by $5.00, soybeans $4.00, and corn $2.00 and are back to pre-Ukrainian invasion values. According to Turkish officials, the anticipated signing is at 8:30 a.m….
Russia turns on Nordstream 1 and oil tumbles. Grain futures had a mixed start Wednesday evening, which turned into a freefall overnight, as crude oil tumbled as much as $5.00 a barrel when Russia restarted Nordstream 1 overnight to full capacity. As oil fell, the whole commodity world moved lower in its wake, with gold…
Grain futures produce a mixed overnight trade. Grain futures produced a mixed overnight session, with wheat futures staging a spectacular recovery on the prospects that the Egyptian wheat tender will be taking US SRW wheat. At the same time, corn and soybeans struggled on the chances of improving moisture next week in the 8-10 day…
Grain prices burdened with seasonal apathy. Grain futures worked lower overnight except for wheat prices that crossed unchanged several times, as Egypt did announce they would accept protein as low as 10.5% in order to receive alternate sources of wheat from the US via SRW wheat being the cheapest in the world presently (Egypt announces…
